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Foreign and Commonwealth Office: Managing Risk in the Overseas Territories

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Foreign and Commonwealth Office: Managing Risk in the Overseas Territories House of Commons Committee of Public Accounts Foreign and Commonwealth Office: Managing Risk in the Overseas Territories Seventeenth Report of Session 2007–08 Report, together with formal minutes, oral and written evidence Ordered by The House of Commons to be printed 31 March 2008 HC 176 Published on 1 May 2008 by authority of the House of Commons London: The Stationery Office Limited £0.00 The Committee of Public Accounts The Committee of Public Accounts is appointed by the House of Commons to examine “the accounts showing the appropriation of the sums granted by Parliament to meet the public expenditure, and of such other accounts laid before Parliament as the committee may think fit” (Standing Order No 148). Current membership Mr Edward Leigh MP (Conservative, Gainsborough) (Chairman) Mr Richard Bacon MP (Conservative, South Norfolk) Angela Browning MP (Conservative, Tiverton and Honiton) Mr Paul Burstow MP (Liberal Democrat, Sutton and Cheam) Rt Hon David Curry MP (Conservative, Skipton and Ripon) Mr Ian Davidson MP (Labour, Glasgow South West) Mr Philip Dunne MP (Conservative, Ludlow) Angela Eagle MP (Labour, Wallasey) Nigel Griffiths MP (Labour, Edinburgh South) Rt Hon Keith Hill MP (Labour, Streatham) Mr Austin Mitchell MP (Labour, Great Grimsby) Dr John Pugh MP (Liberal Democrat, Southport) Geraldine Smith MP (Labour, Morecombe and Lunesdale) Rt Hon Don Touhig MP (Labour, Islwyn) Rt Hon Alan Williams MP (Labour, Swansea West) Phil Wilson MP (Labour, Sedgefield) The following were also Members of the Committee during the period of the enquiry: Annette Brooke MP (Liberal Democrat, Mid Dorset and Poole North) and Mr John Healey MP (Labour, Wentworth). Powers Powers of the Committee of Public Accounts are set out in House of Commons Standing Orders, principally in SO No 148. These are available on the Internet via www.parliament.uk. Publication The Reports and evidence of the Committee are published by The Stationery Office by Order of the House. All publications of the Committee (including press notices) are on the Internet at http://www.parliament.uk/pac. A list of Reports of the Committee in the present Session is at the back of this volume. Committee staff The current staff of the Committee is Mark Etherton (Clerk), Emma Sawyer (Committee Assistant), Pam Morris (Committee Assistant) and Alex Paterson (Media Officer). Contacts All correspondence should be addressed to the Clerk, Committee of Public Accounts, House of Commons, 7 Millbank, London SW1P 3JA. The telephone number for general enquiries is 020 7219 5708; the Committee’s email address is [email protected]. 1 Contents Report Page Summary 3 Conclusions and Recommendations 5 1 The Department’s oversight of offshore financial services in the Territories 7 2 Attaining the right balance between UK and Territory funding and responsibilities 11 3 Governance and managing Territories’ external relations 13 Formal Minutes 15 Witnesses 16 List of written evidence 16 List of Reports from the Committee of Public Accounts 2007–08 17 3 Summary The United Kingdom retains responsibility for 14 Overseas Territories, 11 of which are permanently populated and which choose to remain under British sovereignty rather than to become independent states. The Territories are a diverse group, including Bermuda, home to 65,000 people and a major financial centre, and St. Helena, one of the most isolated populated islands in the world and reliant on UK aid. While the Territories are a UK-wide responsibility, the Foreign and Commonwealth Office (“the Department”) is the lead Department for coordinating UK Government policy for the Territories. The Department for International Development (DFID) coordinates development assistance, focusing on the three Territories of Montserrat, St. Helena and Pitcairn. Assessing and managing the diverse range of risks facing the Territories is challenging. The Department aims to strike a balance between maximising the autonomy given to Territories’ democratically elected governments, and minimising risks to the UK. The UK has dealt with a wide variety of risks and liabilities in the past, including pension liabilities of an estimated £100 million in Gibraltar and emergency aid of over £250 million to Montserrat after a volcanic eruption on the island. The Department is attempting to increase capacity for oversight of Territories’ financial services industries. However, regulatory standards in most Territories are not yet up to those in the Crown Dependencies.1 Limited capacity also reduces the ability of Territories to investigate and prosecute money laundering. The Department has written to UK agencies, such as the Financial Services Authority, the Treasury and the Serious Organised Crime Agency, to emphasise the need for their involvement. The Governor retains responsibility for managing risks such as crime and disasters, yet is dependent on funding being provided from Territory governments. In order to preserve relationships with local governments, Governors tend to rely on their influencing abilities and are reluctant to use more coercive measures to require funding. Territories have seen improvements in disaster management, but this needs to accelerate as rising sea levels and global warming add to the existing risks from hurricanes and volcanoes. The Department’s programme funds aimed at increasing Territory capacity to meet risks and encouraging sustainable development have been too thinly spread to be effective. Standards of governance and financial reporting in the Territories are variable and can fall below standards acceptable in UK Local Government. Lax financial management can evade Departmental controls to protect the UK from risk, although there is stronger fiscal oversight of Territories receiving Development aid. The Department also represents the Territories’ external interests. It is continuing diplomatic contacts with Argentina over a lack of air access through Argentinean airspace to the Falklands Islands, and over rights to 1 Jersey, Guernsey and the Isle of Man 4 fishing licences, an important income generator in the South Atlantic. The Department also maintains that legal costs it has incurred in contesting the right of the Chagos Islanders to return to their homeland of Diego Garcia in the British Indian Ocean Territory are justified. On the basis of a report by the Comptroller and Auditor General, the Committee took evidence from the Department and the Department for International Development on the oversight of offshore financial services in the Territories; on the balance between UK and Territory funding and responsibilities; and on governance and management of the Territories external relations.2 2 C&AG’s Report, Foreign and Commonwealth Office: Managing Risk in the Overseas Territories, HC (Session 2007-08) 4 5 Conclusions and Recommendations 1. The Department has responsibility for managing risks such as crime and disasters, but does not have direct control over funding, which is provided by Territory governments. The Department should go beyond its usual reliance on persuasion, and be more prepared to require money from Territory governments in areas where the UK has constitutional responsibility. It should also publicise where standards are not being met, better to inform Territory citizens. 2. Overall regulatory standards in most Territories, particularly those with smaller financial centres, are poor compared to standards achieved in the Crown Dependencies. The Department and other relevant UK agencies, such as the Financial Services Authority, the Treasury and the Serious Organised Crime Agency need to deploy their expertise and capacity jointly to manage the risks better, particularly in the smaller offshore centres. 3. Territories’ financial services lack the investigative capacity to scrutinise suspected money laundering activity fully and Governors have not used their reserve powers to rectify this. In such a sensitive aspect of the global financial system it is complacent to allow territories for which the UK is responsible entirely to manage the risk themselves. UK technical assistance and advice should be matched by local efforts and funding to drive forward regulatory improvements. The Department and the UK agencies should bring in more external investigators or prosecutors from the UK to bolster capacity until the Territories can be self-sufficient in this area. 4. The Department has no dedicated training programme for Governors, despite the special characteristics of the role compared to mainstream diplomatic activities. The Department should provide all Governors and other key staff with training in the key risk areas relevant to their post, including financial services. Training needs should be assessed throughout each Governor’s posting. 5. The Department acknowledges that policing standards in the Territories fall short of its expectations, yet has used external inspection by HM Inspectorate of Constabulary on only three occasions. Territory citizens should not have to accept less efficient use of police resources, nor less professional oversight than citizens in the UK. The Department should lay down the policing standards expected of the Territories, and test whether they are met on a more consistent basis. 6. There have been improvements in standards of disaster management, but ten years after this Committee’s last report on the subject not all Territories have comprehensive disaster management strategies. The increased risks posed by climate change and rising sea levels make disaster planning
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